Gasoline prices set to drop this week

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ARESEP approved the second consecutive cut in gasoline prices this month.

(Via RECOPE)

The Public Services Regulatory Authority (ARESEP) approved lower gas prices Monday that could benefit motorists as soon as this week — as long as your vehicle doesn’t run on diesel.

ARESEP approved a ₡72 cut in the per liter price of Super gasoline and a ₡63 cut for a liter of Plus gasoline. A liter of diesel, however, will cost ₡7 more.

A liter of Super gasoline will drop from ₡635 to ₡563 ($1.18 to $1.04), Plus will drop from ₡603 to ₡540 ($1.12 to $1.00) and diesel will rise from ₡451 to ₡458 ($0.83 to $0.85).

According to ARESEP’s records, the new gas prices are 27 percent cheaper than those in force in October last year.

ARESEP’s Energy Manager Juan Quesada Espinoza said Monday that lower prices mostly reflect a “decline in international prices due to high reserves and a stable demand in the U.S.” However, international prices of diesel remained relatively stable in recent months.

The main factor affecting fuel prices was a small increase in the exchange rate of colones for dollars.

Still, the price of diesel will remain the lowest it has been in the last six years, according to ARESEP data.

This the second consecutive decrease in fuel prices this month.

ARESEP already sent the new prices to the offical newspaper La Gaceta, and they will apply the day after their publication.